NYSE: AI C3.ai, Inc. 8-K

C3.ai founder Thomas Siebel returns as CEO after 8 months, company cuts $135M in costs

Filed May 12, 2026 · Period ending May 8, 2026 · ~1 min read

Key Changes

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Thomas Siebel, 73, resumed CEO role effective May 8 after serving as Executive Chairman since September 2025; Stephen Ehikian transitions from CEO to President after 8-month tenure

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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Company executed restructuring plan targeting $135M in annualized non-GAAP cost savings and equivalent cash burn reduction; workforce cuts substantially complete, non-employee expense reductions expected in H2 FY2027

Exhibit 99.1 view on EDGAR →
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Q4 FY2026 revenue $51.6M (within guidance), non-GAAP operating loss $54.4M (better than $56-64M guidance); full-year revenue $250.3M, non-GAAP operating loss $217.8M (better than guidance)

Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
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Company signed 28 agreements in Q4 including nine new Initial Production Deployments and seven IPD conversions, though bookings fell short of expectations

Exhibit 99.1 view on EDGAR →
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Company ended FY2026 with $575.4M in cash, cash equivalents, and investments

Exhibit 99.1 view on EDGAR →

Summary

C3.ai announced a significant leadership change as founder Thomas Siebel, 73, returned to the CEO role on May 8, 2026, after serving as Executive Chairman for only eight months. Stephen Ehikian, who had been CEO since September 2025, transitions to President and will report to Siebel. Siebel stated his vision impairment is improving and health issues from 2025 are largely resolved.

The rapid reversal suggests either a planned transition structure or board preference for founder leadership during a critical period for the company. The company simultaneously disclosed preliminary FY2026 results and a major restructuring plan. Fourth-quarter revenue of $51.6 million came in within guidance, but the company acknowledged bookings fell short of expectations despite signing 28 agreements.

The restructuring plan targets $135 million in annualized non-GAAP cost savings and equivalent cash burn reduction—a substantial figure representing roughly 54% of full-year revenue. Workforce reductions are substantially complete, while non-employee expense cuts will materialize in the second half of fiscal 2027. With $575.4 million in cash and a non-GAAP operating loss of $217.8 million for the full year, the cost-cutting initiative appears designed to extend runway and drive toward profitability as the company navigates softer-than-expected bookings momentum.

Section-by-Section Diff

Event · Item 2.02 — Results of Operations and Financial Condition

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C3.ai announced preliminary Q4 and full-year FY2026 results via press release.

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Added Preliminary FY2026 results announcement high

Added in current filing · verify on EDGAR →

On May 12, 2026, C3.ai, Inc. (the “Company”) issued a press release announcing certain preliminary results for the Company’s fiscal fourth quarter and full fiscal year ended April 30, 2026.

C3.ai disclosed preliminary financial results for its fiscal fourth quarter and full fiscal year ended April 30, 2026 through a press release. The 8-K does not include the actual financial figures; those are contained in the attached press release exhibit.

Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation

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Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.

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Added CEO appointment high

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The Board of Directors (the “Board”) of the Company unanimously appointed Thomas M. Siebel as the Company’s Chief Executive Officer and Chairman of the Board, effective May 8, 2026. Stephen Ehikian, who had been serving as the Company’s Chief Executive Officer since September 2025, will serve as the Company’s President effective as of May 8, 2026.

Thomas Siebel, the 73-year-old founder of C3.ai, has been reappointed as CEO after serving as Executive Chairman since September 2025. He previously served as CEO from July 2011 until September 2025. Stephen Ehikian, who had been CEO for approximately 8 months, transitions to the President role. This represents a return to founder-led management after a brief period under different leadership.

Added Leadership transition details medium

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Mr. Siebel, 73, is the founder of the Company and has served as Executive Chairman since September 2025. Prior to that he served as the Chairman of our Board since January 2009, and as our Chief Executive Officer since July 2011 until his appointment as Executive Chairman.

The filing clarifies that Siebel founded C3.ai, has been on the board since 2009, and served as CEO for approximately 14 years before stepping back to Executive Chairman in September 2025. His return to the CEO role after only 8 months suggests either a planned transition or a strategic decision by the board to restore founder leadership.

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Mr. Ehikian, 44, is a seasoned technology leader. He has served as the Company’s Chief Executive Officer since September 2025. He was a member of the founding team and served as Chief Operating Officer and Chief Financial Officer of RelateIQ from 2011 to July 2014, when it was acquired by Salesforce. He served as Vice President of Products at Salesforce from July 2014 to July 2017. Mr. Ehikian then served as Chief Executive Officer and Cofounder of Airkit.ai, from October 2017 until November 2023, when it was acquired by Salesforce. Following the acquisition, Mr. Ehikian served as Vice President of AI Products at Salesforce from November 2023 to January 2024. From January 2025 to July 2025, Mr. Ehikian served as Acting Administrator and Deputy Administrator of the General Services Administration.

Stephen Ehikian brings experience from two successful exits to Salesforce (RelateIQ and Airkit.ai) and recent government service at the GSA. His transition from CEO to President after 8 months may reflect a planned succession structure or board preference for Siebel's leadership during a critical period.

Event · Exhibit 99.1

~1,900 words View exhibit on EDGAR ↗

C3.ai announced preliminary Q4 FY2026 results, CEO leadership change, and restructuring plan delivering $135M in annualized cost savings.

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Effective May 8, 2026, Thomas M. Siebel resumed the role of Chief Executive Officer of C3 AI and continues to serve as Chairman of the Board of Directors. Stephen Ehikian continues as President of C3 AI, reporting to Mr. Siebel.

Thomas M. Siebel returned to the CEO role on May 8, 2026, after previously stepping back due to health issues. Stephen Ehikian remains as President, now reporting to Siebel. Siebel stated his vision impairment is improving and health issues from 2025 are largely resolved. This leadership change restores the founder to the top executive position.

Added Q4 FY2026 preliminary results high

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Total Revenue was $51.6 million, within the Company’s guidance range of $48.0 to $52.0 million. ... GAAP Loss from Operations was $(121.2) million. ... Non-GAAP Loss from Operations was $(54.4) million, better than the Company’s guidance range of $(56.0) to $(64.0) million.

C3.ai reported preliminary Q4 revenue of $51.6 million (within guidance) and a non-GAAP operating loss of $54.4 million (better than the $56-64 million guidance range). GAAP operating loss was $121.2 million. The company signed 28 agreements during the quarter, though bookings were lower than expected. Results are unaudited and subject to change.

Added Full FY2026 preliminary results high

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Total Revenue was $250.3 million, within the Company’s guidance range of $246.7 to $250.7 million. ... GAAP Loss from Operations was $(498.5) million. ... Non-GAAP Loss from Operations was $(217.8) million, better than the Company’s guidance range of $(219.5) to $(227.5) million.

For the full fiscal year 2026, C3.ai reported preliminary revenue of $250.3 million (within guidance) and a non-GAAP operating loss of $217.8 million (better than the $219.5-227.5 million guidance range). GAAP operating loss was $498.5 million. The company ended the year with $575.4 million in cash, cash equivalents, and investments.

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During the quarter, C3 AI signed 28 agreements, including nine new Initial Production Deployments (IPDs) and seven IPD conversions. Even though bookings were lower than expected, the Company continues to see strong customer validation and an accelerating Enterprise AI market opportunity.

C3.ai signed 28 agreements in Q4, comprising nine new Initial Production Deployments and seven IPD conversions. Management acknowledged bookings fell short of expectations but emphasized continued strong customer validation and growing Enterprise AI market opportunity. The company aims to drive operating leverage as restructuring savings fully materialize in the back half of fiscal 2027.